The research reports on “Rail Asset Management Market” report gives detailed overview of factors that affect global business scope. Rail Asset Management Market report shows the latest market insights with upcoming trends and breakdowns of products and services. This report provides statistics on the market situation, size, regions and growth factors.
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The Global Rail Asset Management Market size is projected to grow from US$ 9.0 Billion in 2019 to US$ 12.3 Billion by 2024, at a Compound Annual Growth Rate (CAGR) of 6.4% from 2019 to 2024. This report spread across 150 Pages, Profiling 20 Companies and Supported with 106 Tables and 35 figures is now available in this research.
Top Companies – Siemens (Germany), IBM(US), Alstom (France), Hitachi (Japan), Wabtec (US), SAP (Germany), Trimble (US), Bentley Systems (US), Bombardier (Canada), Atkins (UK), Cisco (US), DXC Technology (US), Trapeze (Canada), Tego (US), Konux (Germany), L&T Technology Services Limited (India), Capgemini (France), Accenture (Ireland), Huawei Technologies (China), and Cyient (India).
Trains carry millions of tons of freight and tens of millions of passengers each year, and rail companies entirely rely on efficient and reliable asset operations and rail infrastructure to successfully meet the growing demand of enhanced rail operations. Information and Communication Technology (ICT) has played a major role in providing asset and operations management services for rail companies. To build a smarter railway system infrastructure, railway experts are demanding smart railway management system services.
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“The rolling stock segment to lead the rail asset management market in 2019”
Rolling stock refers to powered and unpowered vehicles that move on rails. It also includes wheeled vehicles used for business on roadways (such as trams) and other light rail vehicles(LRVs). Rail transit offers the benefit of cost-effective and efficient transportation of passengers as well as freight.
“APAC to grow at the highest CAGR during the forecast period’
Asia Pacific (APAC) is estimated to be the fastest-growing region in terms of the growth of the rail asset management market, owing to the increase in the adoption of new technologies, higher investments for digital transformation, and the increasing Gross Domestic Product (GDP) in the APAC countries. A majority of the potential economies in this region include Australia, Singapore, China, Korea, Hong Kong, and India, which are said to be rapidly investing in technological transformation.
Breakdown of primary participants’ profile:
- By Company Type: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%
- By Designation: C-level – 38%, Directors – 30%, and Others – 32%
- By Region: North America – 40%,Europe– 15%, APAC– 35%,MEA – 5%, and Latin America– 5%
Competitive Landscape of Rail Asset Management Market:
2 Competitive Leadership Mapping
2.1 Visionary Leaders
2.2 Dynamic Differentiators
2.4 Emerging Companies
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